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Gold/Mining/Energy : Winspear Resources
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To: Letmebe Frank who wrote (25324)1/25/2000 2:56:00 AM
From: bill  Read Replies (1) of 26850
 
Thanks Frank,
Two dollars should provide support. Round numbers often
provide both resistance and support. Psychological
barriers.

The problem is that most of us mix technical analysis
and external, fundamental analysis. The danger to WSP
doesn't come from the lawsuit, although that does create
uncertainty and no one wants to finance uncertainty.
The danger is political. I never thought I'd be saying
that in Canada. Indonesia, yes. Kazakstahn, yes. But
in Canada I always assumed a certain integrity of
structure. With Voisey's Bay and ABZ I no longer do.
What can drive the price down so it has no relationship
to the value of the property, either present or future,
is the federal govt. allowing the intervention of groups
who have little or nothing at stake in the process.

Perhaps ABZ sending 175 workers home will give the
territorial govt.and the feds a wake up call. The
assumption of the intervenors is that they should run
the show although they take none of the risk. That
means that those people in the NWT who do take part of
the risk (those who have jobs to lose or contracts to
lose)will have to speak out--as they have done before.

I repeat: what is happening to ABZ can happen to every
company exploring for diamonds in the NWT. If the
federal govt. does not take charge once again, provide
security of tenure to mining companies, everything may
come to a halt. Diamonds in the ground are of no value
if you can't get them out because so many people are
allowed to intervene in the process.
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